Targeted Medical Pharma Inc enters into accounts receivables deal with Cambridge Medical Funding Group
Nov 28, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Specialist pharmaceutical company Targeted Medical Pharma Inc TRGM said on Tuesday that it has completed an agreement to assign certain accounts receivables to Cambridge Medical Funding Group LLC (CMFG).
This agreement allows medical providers, who purchase products from Targeted Medical Pharma, with the option to assign certain accounts receivables from California Workers' Compensation benefit claims to CMFG at a discounted rate.
According to William Shell MD, CEO of Targeted Medical Pharma, this agreement permits Targeted Medical Pharma to more quickly collect outstanding amounts owed to the company by physicians who will purchase its products, providing more opportunities to accelerate growth because of the improved time-to-collection. The physicians will benefit from the reduced time spent on the billing and collection process and avoid lengthy delays in workers' compensation payer reimbursements.
Based in Glen Rock, New Jersey, Cambridge Medical Funding Group provides specialised finance solutions to hospitals, surgical centres and medical providers, purchasing receivables and providing guaranteed upfront payments to these providers.
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